Tadawul Review: 

After six consecutive days of gains, the Tadawul All Share Index (TASI) fell on Wednesday, dropping by 44 points (-0.4%) to close at 12,149. TASI started the session on a positive note, opening with a gain of 21 points, but gradually declined throughout the day, closing at its lowest point. Overall, 14 out of 21 sectors closed in the red zone, while 138 shares fell and 90 rose. Utilities (-2.7%), Banks (-0.3%), and Telecommunications (-0.7%) sectors contributed the most to the index fall. Stockwise, ACWA Power (-3.2%), Al Rajhi Bank (-0.4%), and Aramco (-0.4%) were the major contributors. The trading activity witnessed an increase in volume by 8% to reach 620mn shares, while the value decreased by -13% to reach SAR6.0bn in value traded.

 

 

Market Wrap International: 

On Wednesday, U.S. stock index futures remained steady as investors took a wait-and-see approach, anticipating an important inflation reading that could impact the Federal Reserve’s policy decisions for the month. The Nasdaq Composite rose by 1.8% and the S&P 500 gained 0.8%, while the Dow Jones Industrial Average dropped by -0.2%.

European stock markets ended higher, buoyed by US inflation figures for November that were in line with forecasts, and the anticipation of the ECB's upcoming policy meeting. The CAC 40 gained 0.4%, while the FTSE 100, Euro STOXX 600, and DAX each advanced by 0.3%.

Asian stocks showed mixed results, after U.S. indexes edged lower on Tuesday ahead of the release of U.S. consumer inflation data later in the day. Major Asian indices posted gains, with the KOSPI rising by 1%, the SHCOMP increasing by 0.3%, and the NIKKEI 225 edging up by 0.01%. However, the Hang Seng experienced a decline, falling by -0.8%.